Brazilian and Chinese banks support for Argentina in bonds litigation confirmed

Source: MercoPress.com

10.08.2014

Brazil’s PTG Pactual Bank and the China Construction Bank are at the forefront of the initiative to buy up the 1.6 billion dollars of debt which Argentina owes “holdouts” NML-Elliott and Aurelius, according to a report from Buenos Aires Ambito Financiero, the country's leading financial newspaper.

This alliance between a major Brazilian merchant bank (headed by the billionaire Andre Esteves) and one of China’s “Big Four” — who undoubtedly both have the financial capacity to fund this operation — was confirmed last week to Ambito by Marco Aurelio Garcia, Brazil's special presidential advisor on foreign policy and Mercosur trouble-shooter under both the Lula da Silva and Dilma Rousseff administrations.

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